The sum of fixed cost and variable cost at any rate of output is
A. Total cost.
B. Total variable cost.
C. Average total cost.
D. Average marginal cost.
Answer: A
You might also like to view...
Which of the following is NOT a reason the Fed alters the rate of growth of the money supply?
A) to influence aggregate demand B) to influence the amount of consumption C) to influence the amount of investment D) to shift the demand for money curve
In terms of life expectancy and infant mortality, other OECD nations are able to generate superior health care outcomes with fewer resources relative to the United States
Indicate whether the statement is true or false
The price of dishwashers has remained relatively constant while the quality of dishwashers has improved. The CPI
A) is adjusted monthly to reflect the improvement in quality. B) is increased monthly to reflect the increased quality of dishwashers. C) has an upward bias if it is not adjusted to take account of the higher quality. D) has an upward bias because it does not reflect the increased production of dishwashers. E) should not take account of any quality changes because it is a price index not a quality index.
Suppose that unemployment increases because the government requires employers to provide more funds for their employees' retirement programs. The increase in unemployment is most likely a result of an increase in
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. the natural rate of unemployment.